SEALSQ (NASDAQ:LAES) Trading Down 5.8% – What’s Next?

by · The Cerbat Gem

Shares of SEALSQ Corp. (NASDAQ:LAES – Get Free Report) fell 5.8% on Tuesday . The company traded as low as $4.13 and last traded at $4.1640. 6,371,644 shares traded hands during trading, a decline of 67% from the average session volume of 19,469,148 shares. The stock had previously closed at $4.42.

Analyst Ratings Changes

A number of brokerages recently weighed in on LAES. Cantor Fitzgerald started coverage on shares of SEALSQ in a research report on Thursday, December 18th. They set an “overweight” rating and a $7.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of SEALSQ in a research note on Tuesday, October 14th. Wall Street Zen raised SEALSQ from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Zacks Research raised SEALSQ to a “hold” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.00.

Read Our Latest Report on SEALSQ

SEALSQ Stock Performance

The firm has a 50 day moving average of $5.11 and a 200-day moving average of $4.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.26 and a current ratio of 7.38.

Hedge Funds Weigh In On SEALSQ

Institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of SEALSQ during the 2nd quarter worth approximately $7,939,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in SEALSQ during the first quarter valued at $1,365,000. Millennium Management LLC boosted its stake in SEALSQ by 747.8% during the third quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after buying an additional 433,547 shares during the period. Vident Advisory LLC bought a new position in SEALSQ during the third quarter valued at $988,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of SEALSQ in the third quarter valued at $955,000. 1.25% of the stock is owned by hedge funds and other institutional investors.

About SEALSQ

(Get Free Report)

SEALSQ Corp, together with its subsidiaries, designs, develops, and markets semiconductor chips in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. It offers semiconductors, such as VaultIC secure elements, secure arm platform, and smart card reader chips; identity provisioning services, such as IoT device provisioning and chip provisioning; and managed PKI for IoT solutions and trust services. The company provides device-to-cloud authentication, device attestation for matter, GSMA root certificate, device-to-device authentication, data protection, anti-counterfeiting and brand protection, security access, device ID provisioning, identity lifecycle management, and satellite IoT connectivity solutions.

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